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Author Topic: FCX - Freeport-McMoRan Copper & Gold, Inc. - NYSE  (Read 7801 times)
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delt01
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« Reply #15 on: May 10, 2010, 11:14:30 AM »

That's funny because just when I was about to hit "Buy" my boss walked in and needed me for a few minutes.  I came back and it was at $71.87.  I guess I should give him a cut of the profit...
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Like my grandpa used to say, "You live and learn and die a fool."

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Vegas
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« Reply #16 on: May 10, 2010, 03:56:33 PM »

 Freeport-McMoRan Copper & Gold Inc. (NYSE:FCX) has the 4th highest short interest in this segment of the market. Its short interest is 6.3% of its total shares outstanding. Its Days to Cover is 1.95, calculated as current short interest divided by average daily volume.

http://www.cnanalyst.com/2010/05/top-10-precious-metal-stocks-with-highest-short-interest-hl-cde-swc-fcx-aem-jag-rgld-gss-kry-nem-may.html
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♦♦♦ Give me control of a nations money supply, and I care not who makes it’s laws... Mater Amschel Rothschild ♦♦♦
Vegas
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« Reply #17 on: May 10, 2010, 04:03:53 PM »

Not too bad a close today at $72.50 considering gold was down $7.00 an ounce...
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♦♦♦ Give me control of a nations money supply, and I care not who makes it’s laws... Mater Amschel Rothschild ♦♦♦
delt01
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« Reply #18 on: May 11, 2010, 08:40:39 AM »

I expect a little pull back today as the market goes down.  Regarding your article, excuse my naivety but is that a good thing or bad thing?
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Like my grandpa used to say, "You live and learn and die a fool."

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delt01
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« Reply #19 on: May 11, 2010, 10:20:14 AM »

Congo 2010 Copper Output Seen Hitting 400,000 Tons - MinistryLast update: 5/10/2010 6:47:56 AMDOW JONES NEWSWIRES Congo's 2010 copper output is expected to hit 400,000 metric tons as output rises at several new mining projects, the ministry of mines said Monday. In a report, the ministry projects that annual copper output will exceed 800,000 tons by 2012 due to increased production from mines operated by U.S.-based Freeport McMoRan Copper & Gold Inc. (FCX), Toronto-listed Katanga Mining Ltd. (KAT.T) and the state-mining company Gecamines. Freeport operates Congo's largest copper/cobalt mine Tenke Fungurume, which began commercial production last year. The project is believed to hold the world's largest unexploited copper and cobalt reserves. Congo last produced more than 400,000 tons of copper in a year in the 1980s before years of political mismanagement and civil war led to the near collapse of the sector. The ministry said cobalt production is expected to exceed 90,000 tons by 2012 compared with this year's forecast of 30,000 tons. Congo holds at least a third of the global cobalt reserves. The government projects that by 2012 the mining sector will create up to 50,000 direct jobs and about 300,000 indirect jobs. The ministry also forecast significant output increases for other minerals, including gold, diamonds and cassiterite, or tin ores. Congo produces between 5% and 7% of the global tin output, despite the chaotic nature of the country's tin mining sector in the lawless Kivu provinces. -By Nicholas Bariyo, contributing to Dow Jones Newswires; 256-75-2624615 bariyonic@yahoo.co.uk (END) Dow Jones NewswiresMay 10, 2010 06:47 ET (10:47 GMT)
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Like my grandpa used to say, "You live and learn and die a fool."

Where there's confusion, there's money to be made.
Vegas
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« Reply #20 on: May 11, 2010, 10:33:45 AM »

I expect a little pull back today as the market goes down.  Regarding your article, excuse my naivety but is that a good thing or bad thing?

Not a good thing as the mm's that are shorting this will try to drive the price down so they can profit... It is kind of like the fight between good and evil... Today is a good example of that... Gold is up $15.70 an ounce and FCX is down 2.50%... Exactly opposite of what should happen with a major gold producer...
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♦♦♦ Give me control of a nations money supply, and I care not who makes it’s laws... Mater Amschel Rothschild ♦♦♦
Vegas
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« Reply #21 on: May 11, 2010, 10:40:17 AM »

The best part about real stocks like FCX is it can go down without losing a lot of your investment unlike the pinkies where you can lose 50% in one day... I have only 50 shares of this so I am only down about $50 on it... The flip side is that it goes up just as slow that is why these type of stocks are for long term holding as opposed to trading...
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♦♦♦ Give me control of a nations money supply, and I care not who makes it’s laws... Mater Amschel Rothschild ♦♦♦
Vegas
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« Reply #22 on: May 12, 2010, 12:49:45 PM »

Just sold this for a small profit... It was moving to slow and the money I had tied up in it could be better utilized on some of the lower priced, faster moving stocks...
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♦♦♦ Give me control of a nations money supply, and I care not who makes it’s laws... Mater Amschel Rothschild ♦♦♦
delt01
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« Reply #23 on: May 12, 2010, 03:11:55 PM »

I think this will run into some resistance in that $75 range.  Well played.  I'll hold for a little longer just to see.  Almost all my play money is tied up in this.
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Like my grandpa used to say, "You live and learn and die a fool."

Where there's confusion, there's money to be made.
Vegas
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« Reply #24 on: May 20, 2010, 01:54:19 AM »

Glad I jumped back out of this before gold took the big dive but it does looks like it is bouncing off of the 65.00 support...
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♦♦♦ Give me control of a nations money supply, and I care not who makes it’s laws... Mater Amschel Rothschild ♦♦♦
delt01
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« Reply #25 on: October 06, 2010, 03:31:24 PM »

Vegas, I'm still holding this from $71.  It's over $93 now.  Nice little profit.  It's also oversold.  I'm thinking of hopping out any ideas???
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Like my grandpa used to say, "You live and learn and die a fool."

Where there's confusion, there's money to be made.
delt01
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« Reply #26 on: October 06, 2010, 03:41:54 PM »

Nevermind, I decided to pull the trigger.  I'm happy with my profits.
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Like my grandpa used to say, "You live and learn and die a fool."

Where there's confusion, there's money to be made.
Vegas
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« Reply #27 on: October 06, 2010, 03:58:53 PM »

I think it will go higher but congratulations on your nice profit... Profit taking is always a good thing...  Grin
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♦♦♦ Give me control of a nations money supply, and I care not who makes it’s laws... Mater Amschel Rothschild ♦♦♦
Vegas
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« Reply #28 on: January 20, 2011, 11:33:14 AM »

Freeport-McMoRan Profit Up, But Sees Lower Sales

Jan 20, 2011

Freeport-McMoRan Copper & Gold (FCX.N: Quote) said on Thursday that fourth-quarter profit jumped 60 percent as prices for the two major metals soared, but its shares weakened in premarket trading. Net income rose to $1.55 billion, or $3.25 per share, from $971 million, or $2.15 per share, a year earlier.

Excluding a charge to reduce debt, earnings per share were $3.26, easily beating analysts average forecast of $3.03 per share, according to Thomson Reuters I/B/E/S. Revenue rose 22 percent to $5.6 billion, said Freeport, which operates mines in North and South America, Africa and Indonesia.

Freeport's average price for copper climbed more than 30 percent to $4.18 per pound, although its sales slipped to 941 million pounds from 989 million pounds a year ago. Gold sales rose to 590,000 ounces from 551,000 ounce in the year-ago quarter, while its average sales price rose to $1,398 per ounce from $1,115.

http://af.reuters.com/article/metalsNews/idAFN204372820110120?sp=true
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♦♦♦ Give me control of a nations money supply, and I care not who makes it’s laws... Mater Amschel Rothschild ♦♦♦
delt01
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« Reply #29 on: January 25, 2011, 09:34:29 AM »

I'm still kicking myself for getting out on this one... Undecided

Do you think the above news with make it move?
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Like my grandpa used to say, "You live and learn and die a fool."

Where there's confusion, there's money to be made.
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